Coupon certificate of deposit.



IVI. S. SENTON.

APPLICATION FILED IUNEZT' 1913.

Patented June 1, 1915 2 SHEETS-SHEET I.

IIISQQNIQ N COUPON CERTIFICATE 0F DEPOSIT.

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THE NORR/s PETERS 60 PHOTc-LITHO., WASHINGTON, D. CA

M. S. SENTON. .couPoN csmmcm oF DEPOSIT.

APPLICATION FILED JUNE 27, 1913. y

Patented J une 1, 1915 2 SHEETS-SHEET 2.

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Q OWU mUmmUmUmmU- I I I ATTORNEYS Ir l r11 THE Numa/s PETERS ca pHoro-umu., WAN-Immun. D4 c4 MORITZ S. SENTON, OF NEW ORLEANS, LOUSANA.

Gourou CERTIFICATE or nnrosIT.

i,iarses.

Application filed .Tune 27, 1913. Serial No; 776,683.

deposit, providing for two rates of interest, and arranged to show at all times the interest to which the depositor is entitled, thus rendering the coupon certificate advantageous and attractive to the public and to the bank issuing the same.

A further object is to offer an inducement to the ownerior the latter to leave the ,originalv deposit and the accruing interest undisturbed for a given length of time by the provisionV of a bonus.

In order to accomplish the desired result useis made of a certificate of deposit provided with panels, each having an opening, and interest coupons arranged detachably and i'oldably adjacent the saidpanels and in registerwith the Same. each coupon being provided at its back with the maturity value of the certificates at a given period of time.

A practicalembodiment ofthe invention isrepresented in the accompanying-drawings orming a part offthis speciiication, in which similar characters of reference indicate corresponding parts in bot-hV views.

Figure 1 is a face view of thecertifioate of deposit; and Fig. 2 is a rear face view of the same.

rl`he instrument of obligation consists es sentially of a certificate of deposit A and a series of interest coupons B detachablyand foldably associated with the said certificate of deposit A by the use-of a row of perforations C arranged Vbetween one edge of the certiicate A and the adjacent edgesv of the series of coupons B. rlfhe coupons B are detachable one from the other by transverse rowsof perforations D, so that the coupons can be individually detached.

The certiiicate of deposit is provided on its face with the name E of the issuing bank or other party, blank spaces F for the signatures of/the proper bank officials (president or cashier), a blank space Gr Jfor the Specification of Letters Patent.

Fat-rented June i, 1915.

signature of the payee, and a statement H giving the amount of the deposit andto whom payable and redeemable at any interest-paying period together with either a low rate of interest, if the coupons are used, or arhigh rate of interest, if the coupons are not used. Thus, for instance, as shown in Fig. 1, the certiiicate of deposit is for $31,000 and the interest to be at 31H70 per annum if collected every six months, and at the rate of 4% per annum if the coupons are not used.

The certificate of deposit A is provided withv a series of panels l in register with the coupons B and adjacent to the line of perforation C, and each panel l is provided with an elongated opening l.

Thev coupons B are arranged for a series oi periods of time from the date of the certifica-te until its date of maturity, the couponsbeing successively numbered, and each coupon bears the value of the low rate of interest previously mentioned and referred to in the statement H. 0n the back of each of the coupons B (see Fig. 2) are printed thefvalues J of the certiiicate of deposit `at maturity when the coupons are detached and'cashed in at the given periods of time, and the said maturity values J are so ar ranged that when the coupons B are folded along the row of perforations Conto the back of the Vcertiiicate A, then the said values J appear in the openings l of the panels l. For instance, as indicated in the drawings, when no coupon is detached the value of the certificate oi' deposit at maturity is $1200., as will appear in the first opening l to the left, the amountlQOO. being printed on the back of the coupon B numbered 1. ln a like manner ii one coupon is detached at the end o1" the first period oi time, the maturity value of the certiiicate of deposit is $1180., which amount appears through the second opening l of the second panel opposite to or in register with the coupon B marked 2. Thus the depositor can ascertain the value at maturity 0I" the certificate of deposit at any time whether the coupons are detached or not at the expiration of the corresponding periods of time indicated on the coupons.

. The certificate of deposit A is also provided adjacent the panels I with a statement K providing :tor the payment of a bonus in case none of the coupons B have been detached and collected. rlhus, for instance, as shown, the bonus is $20, which, in addition to the interest of 4% paid at maturity and in case none of the coupons is detached, approximately amounts to compound interest at 4%. It is understood that in the eX- vample given if interest is collected every six months, by making use of the coupons B, the depositor receives 34% interest per annum, and if the interest is not collectedsenii annuallyrand the certificate is allowed to mature, then in five years the interest has accrued atlC/O and a bonus is provided for to the amount oi' $20.00, so that the de# .positor receives the original amount depanel, as previously explained, provided no' further coupons are used until the certificate becomes due.

Vflavings banks have found that a great many of their depositors when they accuinulate some money, desire to make a larger-perf ceiitage than the one paid ordinarily say 3 vor 311-72) by issuing pass books, which methodl entails a great deal of bookkeeping and calculations at interest periods on the various amounts deposited and withdrawn during the previous six months, all this work would.

be obviated by the issuing loi certificates in round sums, practically for a fixed period, therefore, the bank would beV able'to offer a better Yrate ofinterest to the public on these certificates without conflicting With their savings rules, knowing at all times the largest amount of certificates that could be presented in any month for redemption, by keeping a special register of same, under theV rule that they are redeemable at any Vinterest paying period.' The register would have columns for every mouth in the year and a totalv column. By adding the amounts in each column, the banker would'know howV many monthsl of interest were due on each total since last balancing of books, and the amount he would have to set aside in pre paring a statement at any given time.

Having thus described my invention, I

,'Goples of this patent vmay be obtained for five'cents eac11,'by addressing-the Commissioner of `Zlra'tenti,

the corresponding panel opening on folding Y the coupons upon the back of the certificate.

2, A coupon certificate of deposit, comprising a certificate of deposit,.a seriesof interest coupons detachable from one another and arranged along one edgeof. and Yfoldable with respect to the'said certificate of deposit, the said certificate of deposit having a series of panels yon its face and along its said edge, each oi' which panels isopposite Vto and .corresponds with one ofthe coupons, andis provided with anl opening through Vwhich va portion of one surface of its respective coupon will Vshow whenthe Y- series of coupons varelfolded' upon theY ceriificate. of?, deposit.

3. A coupon certiticatelofdeposit com-".7

prising a certificate of deposit having spaces markedout adjacent tof and along one edge fsu thereof and forming a plurality'oi panelsfar` plurality of coupons. detachably4 connected to said edge of the certificate otdeposit, said coupons being oldableon the backV of the certificate and extending-.fin a series there-V along, each of said coupons bearingonvfits reverse side itsrespective maturity value of the entire certificate and beingiarranged oprposite to one ofthe saidrpanels and havingV its interest value on its obverse sidejgthe said panels having openings in which the maturity .valueof the certificate appears whenV the coupons are folded upon'the back of theV two subscribing witnesses. f

In testimony whereof I have signedV my name. to this specificationinthe presence of Moniiz ssiiNToN.'V j,

two witnesses.

Vitnesses: v Y

-A WEHRLE,

R. J. REAMES.

Washington, D. G. f Y

It is hereby certified that in Letters Patent No. 1,141,838, granted kJune l, 1915, upon the application of Moritz S. Senton, of New Orleans, Louisiana,

for an improvement in Coupon Certieates o Deposit," an error appears in the printed speeieation requiring correction as follows: Page 2, line 95, claim 3, for

the words two subscribing Witnesses read certificate; and that the said Letters Patent should be read with this correction therein that the same may conform to the record of the ease in the Patent Office.

Signed and sealed this 19th day of October, A. D., 1915.

R. F. WHITEHEAD,

[SEAL] Acting C'ommtsst'oner of Patents. 

